GAUTHIER SCHEPENS: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
GAUTHIER SCHEPENS
Largest movements
- Current investments +€739,943
up €739,943 (+17.7%), from €4.2m to €4.9m
- Receivables within one year -€533,393
down €533,393 (-44.4%), from €1.2m to €668,306
of which Other amounts receivable: -€528,834
- Cash -€123,867
down €123,867 (-8.4%), from €1.5m to €1.4m
mainly Contributions, distributions and other (-€2.3m) and Current investments (-€739,943)
- Tangible fixed assets -€99,103
down €99,103 (-16.9%), from €584,883 to €485,780
of which Land and buildings: -€96,338
- Reserves -€1.4m
down €1.4m (-19.2%), from €7.4m to €6.0m
of which Distributable reserves: -€1.6m
- Other debts +€1.3m
up €1.3m (+8716.2%), from €14,961 to €1.3m
- Tax, wage and social debts +€104,489
up €104,489 (+563.3%), from €18,550 to €123,039
of which Taxes: +€106,889
- Gross operating margin -€963,999
down €963,999 (-39.4%), from €2.4m to €1.5m
- Taxes -€361,846
down €361,846 (-49.1%), from €737,607 to €375,761
- Financial charges +€92,276
up €92,276 (+129.8%), from €71,074 to €163,350
- Depreciation -€50,710
down €50,710 (-33.8%), from €149,813 to €99,103
- Financial income -€46,162
down €46,162 (-39.0%), from €118,342 to €72,180
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,456,259 | €7,441,023 | -€15,235 | -0.2% |
| Fixed assets | 21/28 | €584,883 | €485,780 | -€99,103 | -16.9% |
| Tangible fixed assets | 22/27 | €584,883 | €485,780 | -€99,103 | -16.9% |
| Land and buildings | 22 | €561,083 | €464,745 | -€96,338 | -17.2% |
| Plant, machinery and equipment | 23 | €2,173 | €1,035 | -€1,139 | -52.4% |
| Furniture and vehicles | 24 | €21,627 | €20,000 | -€1,627 | -7.5% |
| Current assets | 29/58 | €6,871,376 | €6,955,244 | +€83,868 | +1.2% |
| Amounts receivable within one year | 40/41 | €1,201,698 | €668,306 | -€533,393 | -44.4% |
| Trade receivables | 40 | €209,157 | €204,599 | -€4,559 | -2.2% |
| Other amounts receivable | 41 | €992,541 | €463,707 | -€528,834 | -53.3% |
| Current investments | 50/53 | €4,191,672 | €4,931,615 | +€739,943 | +17.7% |
| Cash at bank and in hand | 54/58 | €1,474,202 | €1,350,335 | -€123,867 | -8.4% |
| Deferred charges and accrued income | 490/1 | €3,804 | €4,988 | +€1,185 | +31.1% |
| Total equity and liabilities | 10/49 | €7,456,259 | €7,441,023 | -€15,235 | -0.2% |
| Equity | 10/15 | €7,411,938 | €5,990,611 | -€1.4m | -19.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,391,237 | €5,969,907 | -€1.4m | -19.2% |
| Tax-exempt reserves | 132 | €1,038,277 | €1,248,777 | +€210,500 | +20.3% |
| Distributable reserves | 133 | €6,352,960 | €4,721,130 | -€1.6m | -25.7% |
| Profit (loss) carried forward | 14 | €2,101 | €2,104 | +€3 | +0.1% |
| Provisions and deferred taxes | 16 | €3,517 | €3,517 | = | 0.0% |
| Deferred taxes | 168 | €3,517 | €3,517 | = | 0.0% |
| Amounts payable | 17/49 | €40,803 | €1,446,895 | +€1.4m | +3446.0% |
| Amounts payable within one year | 42/48 | €40,803 | €1,446,895 | +€1.4m | +3446.0% |
| Financial debts | 43 | €21 | - | -€21 | |
| Credit institutions | 430/8 | €21 | - | -€21 | |
| Trade debts | 44 | €7,271 | €4,864 | -€2,407 | -33.1% |
| Suppliers | 440/4 | €7,271 | €4,864 | -€2,407 | -33.1% |
| Taxes, remuneration and social security | 45 | €18,550 | €123,039 | +€104,489 | +563.3% |
| Taxes | 450/3 | €16,150 | €123,039 | +€106,889 | +661.8% |
| Remuneration and social security | 454/9 | €2,400 | - | -€2,400 | |
| Other amounts payable | 47/48 | €14,961 | €1,318,993 | +€1.3m | +8716.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,813 | €99,103 | -€50,710 | -33.8% |
| Other operating charges | 640/8 | €13,150 | €5,491 | -€7,659 | -58.2% |
| Gross operating margin | 9900 | €2,445,097 | €1,481,099 | -€963,999 | -39.4% |
| Operating profit (loss) | 9901 | €2,282,134 | €1,376,504 | -€905,630 | -39.7% |
| Financial income | 75/76B | €118,342 | €72,180 | -€46,162 | -39.0% |
| Recurring financial income | 75 | €118,342 | €72,180 | -€46,162 | -39.0% |
| Financial charges | 65/66B | €71,074 | €163,350 | +€92,276 | +129.8% |
| Recurring financial charges | 65 | €71,074 | €163,350 | +€92,276 | +129.8% |
| Profit (loss) for the period before taxes | 9903 | €2,329,402 | €1,285,334 | -€1.0m | -44.8% |
| Income taxes | 67/77 | €737,607 | €375,761 | -€361,846 | -49.1% |
| Profit (loss) for the period | 9904 | €1,591,794 | €909,573 | -€682,222 | -42.9% |
| Transfer from tax-exempt reserves | 789 | €526,880 | - | -€526,880 | |
| Transfer to tax-exempt reserves | 689 | €484,150 | €210,500 | -€273,650 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,634,524 | €699,073 | -€935,452 | -57.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.